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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Apyx Medical Corporation, an energy technology company, designs, develops, manufactures, and sells electrosurgical equipment and medical devices in the United States and internationally. The company operates through two segments: Surgical Aesthetics and Original Equipment Manufacturing (OEM). It offers helium plasma generator for the delivery of RF energy and helium plasma to cut, coagulate, and ablate soft tissue during open and minimally invasive surgical procedures; and a portfolio of single-use handpieces and accessories for open and laparoscopic procedures.
How they make money
Apyx Medical Corporation generates revenue primarily through the design, development, and sale of proprietary helium plasma-based electrosurgical devices. The company sells its Renuvion and J-Plasma technology to medical professionals for use in cosmetic and surgical procedures, while also manufacturing OEM generators and related accessories for other medical device companies.
Products & services
The company offers the Renuvion and J-Plasma product lines, which utilize helium plasma technology for tissue coagulation and contraction, alongside a portfolio of traditional electrosurgical generators and accessories.
Brands & revenue mix
Renuvion
Flagship brand for helium plasma-based cosmetic and surgical procedures.
Separate brand revenue is not available in this research.Source
J-Plasma
Core technology brand used in electrosurgical applications.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
The company discloses that it relies on a network of distributors and direct sales channels, with specific customer concentration risks detailed in the risk factors section of the 2025 10-K.
Suppliers, materials & equipment
Chinese Supplier — An unnamed supplier involved in a joint venture agreement for manufacturing support.Source
Business relationships & partnerships
Chinese Joint Venture — A joint venture in which the company holds a 51% ownership interest to establish a commercial presence in the Chinese market.Source
Overall investment score · Quality, value, risk and opportunity
16
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
24
Poor
Financial Strength
33
Business Quality / Moat
21
Management
0
Growth Quality
48
Risk / Durability
18
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
38
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
47/100
Building Historical Record
Model Score 47/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
What we like
No strong positive signal is being highlighted from the currently available summary data.
What to watch
•MAJOR RED FLAG: Reverse split proposed / authorized
•Debt service risk
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Asset quality is a weaker factor
Company-specific research
Questions worth answering for APYX
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can APYX maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•How long can APYX fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Does APYX's balance between cash and debt leave enough flexibility if business conditions weaken?
•What specifically needs to improve for APYX to reach sustainable profitability?
•What future growth or profitability would be needed to justify APYX's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for APYX
Detected from reported data — verify before acting.
MAJOR RED FLAG: Reverse split proposed / authorized
A recent SEC filing discusses authorization, approval, or a proposal for a reverse stock split. This is treated as a major distress/listing-risk signal and caps Wall Street Score below 30 while pending.
Interest coverage is low (~-1.2x). Earnings may be strained to cover interest expense.
Community Sentiment
0 active · 0 total calls
0% Bullish (0) 0% Bearish (0)
No personal call yet on APYX.
Potential upside factors
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Proprietary helium plasma technology.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Medical - Specialties industry.
−Regulatory approval and clearance risks.
−Dependence on third-party distributors.
−A recent SEC filing discusses authorization, approval, or a proposal for a reverse stock split. This is treated as a major distress/listing-risk signal and caps Wall Street Score below 30 while pending.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
Click any score for full breakdown
Wall Street Score
Very Weak16/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Fair
50
Debt Cost14.2%
Debt Reduction YoY-1.5%
Debt / Equity2.71x
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Revenue
Poor
17
Revenue YoY10.5%
Revenue CAGR0.5%
Net Margin-14.8%
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Asset
Poor
24
Asset Growth YoY3.1%
Liquidation/Share$0.26
Net Assets/MCap0.21x
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Capital
Poor
0
Earnings Yield-8.4%
Buyback Yield0.0%
Debt Cost14.2%
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Management
Poor
0
ROIC-28.4%
ROE-81.0%
ROA-14.1%
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Moat
Poor
21
EPS Growth—
FCF/Share Growth—
Rev/Share Growth3.4%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Poor
23
Revenue17
Moat21
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
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Financial
Poor
25
Interest Coverage-1.2x
ROIC-28.4%
FCF Yield-8.8%
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Master
Poor
16
Financial25
Valuation0
Debt50
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Resilience
Poor
30
Survival Years3.5 yrs
Current Ratio5.00x
FCF Margin-17.2%
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Score Changes
6 historical score records available
Previous Score
16
Sep 8, 2026
Change
Unchanged
Current Score
16
Oct 1, 2026
Category Changes
Revenue+1.1
Debt0
Assets+1.2
Capital0
Management0
Moat0
Valuation0
Buffett+0.4
APYX score was unchanged.
Projected Score
Projected Score
19
Projected Change
+3.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 3.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$2.69
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$58.4M
$52.8M
$48.1M
$52.3M
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····
····
····
····
····
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Cost of Revenue
$38.6M
$33.8M
$18.7M
$18.6M
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····
····
····
····
····
····
Gross Profit
$19.8M
$19.0M
$29.4M
$33.8M
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····
····
····
····
····
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Research & Development
$3.3M
$3.4M
$5.1M
$4.8M
····
····
····
····
····
····
····
SG&A Expenses
$28.2M
$36.1M
$43.1M
$48.9M
····
····
····
····
····
····
····
Operating Expenses
$23.4M
$25.5M
$48.2M
$51.0M
····
····
····
····
····
····
····
EBITDA
-$1.6M
-$4.6M
-$16.8M
-$18.1M
····
····
····
····
····
····
····
Operating Income
-$3.5M
-$6.4M
-$18.8M
-$17.3M
····
····
····
····
····
····
····
Interest Expense
$5.6M
$5.6M
$5.9M
$2.5M
····
····
····
····
····
····
····
Income Before Tax
-$8.0M
-$10.8M
-$23.3M
-$21.3M
····
····
····
····
····
····
····
Income Tax Expense
$439K
$270K
$252K
-$2.4M
····
····
····
····
····
····
····
Net Income
-$8.6M
-$11.2M
-$23.5M
-$18.7M
····
····
····
····
····
····
····
Basic EPS
$-0.21
$-0.27
$-0.66
$-0.54
····
····
····
····
····
····
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Basic Shares
42.16M
42.16M
35.54M
34.62M
····
····
····
····
····
····
····
Diluted Shares
42.16M
42.16M
35.54M
34.62M
····
····
····
····
····
····
····
Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Margins expanded
What Weakened
Cash position declined
Debt increased
Potential Score Impact
Positive indicators included revenue growth, net income margin. Pressure indicators included EPS growth, cash levels, debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 22.1%. EPS declined 17.1%. Cash declined 5.7%. Total debt increased 1.4%. Net income margin improved by 9.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Upgrade to Premium to unlock all earnings history.View plans
Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.